One thing that you must remember when you purchase a mobile home is that you cannot trust a standard homeowner’s policy to cover all the things that could happen. In fact, you should remember that homeowner’s insurance is not even designed to cover mobile homes. You will need to choose specialty insurance just for this type of dwelling in order to make sure you are completely covered.
Since mobile home insurance is quite different from other types of home policies, you will need to make sure you understand it thoroughly. Instead of finding it confusing and having no idea what policy to purchase, consider the following four pieces of advice that will guide you in the right direction. With these four tips, you will be well on your way to choosing the right mobile home coverage.
1. Know what this type of coverage will pay for and what it will not. Because mobile homes are more susceptible to various bad weather issues, these specialty policies are designed to handle the damages that could come along. As a rule, the policies will cover damage from wind, lightning, fire and falling objects like tree limbs.
Each policy can vary, so you will need to consider very carefully before you purchase anything. Also, keep in mind that some things may not be covered in standard mobile home insurance but could be added to the policy. As a general rule, flooding or sewage backup will not be covered in the standard policy. Look for things that will not be covered and then determine if you would like to add them on.
2. There are three different ways that you can purchase coverage for your mobile home. The most low cost option is to choose to just cover the actual building. However, if you do this, you will not be insured for all of your belongings or the land that the home is situated on. You can choose to insure the mobile home and the property, but again, the belongings will not be covered. Finally, you can choose a total replacement package, which will insure the home, the belongings within it and the land.
Before choosing the lowest priced option, consider what would happen if your home were destroyed. Choose the option that both fits in your budget and will provide you with the coverage you need.
3. Make sure that liability is included in your insurance policy. While most policies will include the coverage, it is best to make sure you are covered. Liability comes into play if someone else is on your property and they are injured or their belongings are damaged. Without liability insurance, you could face great expenses or even law suits if someone is injured on your property.
Almost any type of homeowner’s policy or mobile home policy will already include liability coverage, but you may have the option to choose how much coverage is included.
4. You can also consider adding other types of coverage’s to your mobile home policy. This way, you can bundle more than one thing together and possibly save you money. Not all types of extra coverage’s are available in all instances, but it is something you can consider. Some types of coverage that can be bundled include floater insurance, which will cover any items of particular expense that you may own, identity theft protection, and additional coverage’s for personal property.
By adding to the limits your insurance already has for personal property, you can make sure that you are sufficiently covered if you experience total loss. While you can never truly replace all of your personal items, you can make sure that you do not experience a serious financial burden trying to replace the things you need.
Because mobile homes can accrue different kinds of expenses that that of other types of homes, the specialized mobile home policies should be considered. These policies are tailor made to cover the different types of damage that could occur. Since this insurance is different, follow these four tips to choosing the best policy with the best coverage to meet your needs. By choosing the right policy, you can make sure your home and your property are properly insured.